Form 4: Eagle Point Credit Management Sells Shares in ACRES Commercial Realty Corp.

Eagle Point Credit Management LLC, a 10% owner of ACRES Commercial Realty Corp., has sold shares of preferred stock over several transactions in September 2024.

Summary

• Eagle Point Credit Management LLC, along with Eagle Point DIF GP I LLC, filed a Form 4 detailing changes in beneficial ownership of ACRES Commercial Realty Corp. securities.
• The transactions involved the sale of 8.625% Series C Preferred Stock and 7.875% Series D Preferred Stock.
• These sales occurred between September 9, 2024, and September 11, 2024.
• The sales of Series C Preferred Stock ranged from $24.98 to $25.00 per share.
• The sales of Series D Preferred Stock ranged from $22.72 to $22.79 per share.
• After these transactions, Eagle Point Credit Management LLC indirectly holds 578,868 shares of 8.625% Series C Preferred Stock, 1,009,837 shares of 7.875% Series D Preferred Stock, and 1,191,307 shares of Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock sales, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and significant shareholders, providing transparency to the market.

Key Dates